Starting a Publishing Business in Singapore
As a developed nation that is highly invested in its people and workforce, Singapore has one of the highest literacy rates in the world. There is a continuous demand for high quality publications and publishing business in Singapore, which include newspapers, books, magazines, periodicals and more.
These factors are just some of the reasons that Singapore is an ideal publication hub because of how easy it is to set up a business. The country is thriving with both international and local publication companies.
What Licenses Do You Need to Start a Publishing Business in Singapore?
Thinking about setting up a publishing business in Singapore? These are some of the types of licenses that you’re going to need to start your venture:
- Newspaper permits. These are acquired from the Media Development Authority of Singapore, also known as the MDA. If your business in involved in printing or publishing newspapers in Singapore, this is the license that you will be required to have. This license is also needed for businesses who are planning to sell and distribute offshore newspapers in Singapore. For example, if you were to sell a Malaysian newspaper in Singapore, you can’t do it if you don’t have this license.
- Printing press license. This license is needed if you’re planning to operate a press service to print any publication. These include, for example, newspapers and magazines in Singapore. This license can be acquired from the Registrar of Newspapers. It should be noted, however, that these licenses are non-transferable.
- Online publishing license. While no permit is required for the publishing of periodicals, the business still must be registered with the Media Development Authority of Singapore if you’re an internet provider that is providing online newspapers for a subscription fee. This license is also required if your business plans to publish information on the internet.
For the publication of novels or one-off commemorative booklets however, no permit is required.
The types of licenses you would need would depend on the specific nature of your business. There are times when additional licenses and approvals may be needed.
Starting a Publishing Business
Before any type of business can begin its operations in Singapore, the business or company needs to first and foremost, be incorporated. There is no moving forward and taking the further steps needed if your business isn’t first incorporated.
Once that has been taken care of, the next phase would be to ensure the premise you intend to open the business in is suitable and has the necessary approval needed before business can commence.
And aside from getting the necessary licences and permits to run and operate the business, you would also need to source for the right staff to fill the roles within the business. Unless you have suitable candidates already in mind, this part of the process could potentially take up quite a bit of time.
Starting a business is a lot of hard work, but enlisting the help of professional services and experts at it can help to make the process a much smoother transaction. 3E Accounting is more than ready to help you take that next step towards starting your own publishing company. Get in touch with us today to find out how we can help you.
Read more about Setting up a Publishing Business in Singapore from 3E Accounting Pte Ltd, Singapore.